Fed didn't taper; effect on your finances

Auto loan rates won't change much

Auto loans rates could inch down but likely won't be largely affected by Wednesday's Federal Reserve decision to not cut back on its bond-buying spree.

"I wouldn't expect it to affect auto sales much," Edelstein predicts.

But interest rates could go down slightly because the market was expecting the Federal Reserve to taper its bond-buying program. The lack of a slowdown could bid up the prices of bonds and, in turn, lower interest rates.

"The market is forward-looking, and they've already priced it in," said David Nice, associate economist at Mesirow Financial in Chicago.

Edelstein says the Fed still is likely to taper the bond buying in December, so a huge impact is unlikely.

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